October 2023 WBA Compliance Journal
The October 2023 WBA Compliance Journal is now available. In this edition, WBA Legal provides a reminder of FinCEN’s BOI Reporting Rule which becomes effective January 2024 and lists resources made available by FinCEN. Also, as disbursements from escrows will begin shortly, readers can review an FAQ to freshen-up on state and federal escrow requirements. The “Regulatory Spotlight” section once again provides a summary of rules, proposals, and notices issued by federal agencies, and the “Compliance Notes” section reports on other important compliance-related updates for bankers, including new CFPB opinions and FRB’s latest Consumer Compliance Outlook regarding representment fees.
